Welcome to our dedicated page for GE Aerospace news (Ticker: GE), a resource for investors and traders seeking the latest updates and insights on GE Aerospace stock.
GE Aerospace reports news on its aircraft engine, services, and systems business, including commercial engine orders, long-term service support, maintenance, repair and overhaul investments, and digital tools used in production, supply chain, and military aircraft readiness. Coverage includes customer selections for GEnx and other GE Aerospace or CFM-powered fleets, dividend declarations, workforce-training initiatives, and governance matters involving defense-related products.
TRIUMPH Group, Inc. (NYSE:TGI) has secured a contract from GE Aerospace to provide the Auxiliary Gearbox for the F404 afterburning turbofan engine. This component has potential future applications in multiple platforms, including the T7-A, T-50, and TAI Hurjet. The work will be carried out at TRIUMPH's facility in Macomb, Michigan.
TRIUMPH, a long-standing partner of GE Aerospace, specializes in designing and manufacturing complex aerospace gearing components and integrated gearboxes for various aircraft applications. This sole-source award strengthens their partnership and supports GE Aerospace's engine applications for both legacy fleets and new aircraft.
GE Aerospace (NYSE: GE) announced the acceptance of two T901-GE-900 engines by the U.S. Army for integration and testing with UH-60 Black Hawk helicopters. The event marks a pivotal moment in GE's collaboration with the Army, aiming to provide enhanced performance, power, and reliability for military missions.
These engines, designed to deliver greater range, more power, and reduced maintenance costs, were unboxed at Sikorsky's facility in West Palm Beach, Florida. The T901 engine has successfully powered Sikorsky's Future Attack Reconnaissance Aircraft (FARA) prototype, Raider X, and is built on GE's extensive experience with the T700 engine.
Utilizing advanced technologies such as 3D-printing and ceramic matrix composites, the T901 offers significant improvements while maintaining a modular design for easy integration and reduced life-cycle costs. The engine addresses the Army's needs for increased power and fuel efficiency.
GE Aerospace's Board of Directors has declared a quarterly dividend of $0.28 per share on its outstanding common stock. The dividend will be payable on July 25, 2024, to shareholders who are on record as of July 11, 2024. The ex-dividend date for this announcement is also July 11, 2024. This decision reflects the company's commitment to returning value to its shareholders.
Dolby Laboratories (NYSE: DLB) announced an agreement to acquire GE Licensing from GE Aerospace for $429 million in cash. The acquisition, which includes over 5,000 patents in video codec technology, aims to strengthen Dolby’s licensing business and foster future growth. GE Aerospace will retain its aerospace and defense IP portfolio. The transaction is expected to close by the end of fiscal 2024, subject to regulatory approval, and is anticipated to be accretive to Dolby’s operating margins and EPS in fiscal 2025. This deal will not impact Dolby's dividend or stock repurchase practices.
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